Showing 1 - 10 of 34
This article develops a multitask model in which the agent has to produce both verifiable and unverifiable outputs in a dynamic framework as observed in actual labor markets and practices. The model derives an important result regarding the timing and the length of a wage contract. A short-term...
Persistent link: https://www.econbiz.de/10009367196
In this paper, we investigate equilibrium cycles in dynamic general equilibrium models with cash-in-advance constraints. Our findings are two-fold. First, in such models, if an equilibrium cycle exists, then there also exists a continuum of equilibrium cycles in its neighborhood. Second, the...
Persistent link: https://www.econbiz.de/10008725879
This paper investigates the attributes of the multi-step income 1) operating profits, 2) earnings before tax, special and extra-ordinary items, and 3) net income, and then this paper confirms the rationality of the multi-step performance reporting. We examine the relationship between the...
Persistent link: https://www.econbiz.de/10004991475
Japan has now experienced over a decade of slow growth and deflation. This period has also been associated with protracted problems in the banking sector. A wide range of measures have been tried in to restore health in the banking sector including recapitalization, the extension of 100%...
Persistent link: https://www.econbiz.de/10004972618
This paper investigates the relationship between value relevance of the multi-step income statement and managerial opportunistic behavior. In Japan, net income is disclosed by three steps, i.e., 1) operating profits from core operating activity, 2) ordinary income, measured by adding gains and...
Persistent link: https://www.econbiz.de/10004972621
During the 1990s, Japan began experiencing demographic changes that are larger and more rapid than in other OECD countries. These demographic changes will become even more pronounced in future years. We are interested in understanding the role of lower fertility rates and aging for the evolution...
Persistent link: https://www.econbiz.de/10005140886
The purpose of this paper is to investigate the value relevance of the legally mandated provisions. This paper examines the effects of changes in provisions on the value relevance of earnings. The results show that the calculation of provisions will deteriorate the relevance of earnings when the...
Persistent link: https://www.econbiz.de/10005140910
This paper poses the following question: Is it possible to improve welfare by increasing taxes and throwing away the revenues? This paper demonstrates that the answer to this question is "yes." We show that there may be welfare gains from taxing capital income even when the additional capital...
Persistent link: https://www.econbiz.de/10004999302
In this paper, we present a search model with divisible money in which there exists a continuum of monetary equilibria with strictly increasing continuous value functions and with non-discrete money holdings distributions.
Persistent link: https://www.econbiz.de/10004999329
In this paper, it is shown that real indeterminacy of stationary equilibria generically arises in most matching models with perfectly divisible fiat money. In other words, the real indeterminacy follows from the condition for stationarity of money holdings, and surprisingly it has nothing to do...
Persistent link: https://www.econbiz.de/10005042367